When a cheque received on a particular date is not deposited the same day into bank, it is entered in ________________.

Cash column on the debit side

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Bank column on the debit side

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Cash column on the credit side

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Cash column on the debit side and credit side.

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Solution

The correct option is D Cash column on the debit side
When a cheque received is not deposited on the same day, it is taken in the cash account and when it is deposited in bank, then a contra entry is passed.
For example cheque received from Ram on 15th March is deposited on 18th March, following entries will be passed: 15/3 Cash A/c Dr.

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Similar questions

State whether the following statements are TRUE or FALSE :

1. Total of payments side can be greater than total of receipts side in case of bank column.
2. Purchase of asset or stationery on credit is recorded in purchase book.
3. When goods are returned by buyer to seller, buyer sends a debit note.
4. Cheque received and deposited into bank on the same day is a contra entry.
5. Simple petty cash book is not very popular.
6. Interest on overdraft charged by bank is recorded in the cash column.
7. It is not necessary to record dishonor of cheques in the cash book.
8. Cheque book facility is available for fixed deposit account.
9. Businessman generally operates savings bank account.
10. A cash book is both a journal as well as ledger.
11. Cash book is a book of original entry.
12. Cash discount allowed is recorded on the debit side of cash book
13. Credit transactions are never recorded in cash book.
14. Endorsed cheques are always recorded on the payment side in the bank column.
15. A person who endorses the cheque is known as endorser.

Q. (i) On 31st March, 2018, the bank pass book of Radh showed a credit balance of Rs. 15,000.
(ii) Before that date, she had issued cheques amounting to RS. 8,000 out of which cheques Rs. 3,200 were presented for payment.
(iii) A cheque of Rs. 2,200 deposited by her into the bank on 26th March, 2018 is not yet credited in the pass book.
(iv) She had also received a cheque of Rs. 500 which although entered by her in ther bank column of Cash Book, was omitted to be paid into the bank.
(v) On 30th March, 2018, a cheque of Rs. 1,570 received by her was paid into the bank but the same was omitted to be entered in the cash book.
(vi) There was a credit of Rs. 150 for interest on Current account and a debit of Rs. 25 for bank charges.
Prepare Bank Reconciliation Staement.

Q. The following facts were extracted as at 31st December 2014 from the books of Rajesh Dogra who keeps a double column Cash Book:

	₹
Bank balance as per Cash Book (overdrawn)	32,000
Balance as per bank statement (in favour)	24,000

₹ 200 commission charged by bank on outstation cheques yet to be taken into account.
A cheque for ₹ 11,000 paid to Shashi Bhushan wrongly entered in the cash column.
Debit side of Cash Book (bank column) undercast by ₹ 1,000. Cheques received from customers ₹ 10,400 deposited on 31-12-2014 but credited by the bank on 2-1-2015.
Cheques issued to suppliers ₹ 76,600 during 2014 not yet presented for encashment.
Prepare a Bank Reconciliation Statement as at 31-12-2014.

Q. If a transaction involves both cash and bank account, it is entered on both sides of the cash book, one in the cash column and second in the bank column, though on opposite sides. This is called a _____________.

(i) On 31st March, 2016 the bank passbook of Radha showed a balance of Rs. 15,000 to her credit.

(ii) Before that date, she had issued cheques amounting to Rs. 8,000 out of which cheques amounting to Rs. 3,200 have so far been presented for payment.

(iii) A cheque of Rs. 2,200 deposited by her into the bank on 26th March, 2016 is not yet credited in the passbook.

(iv) She had also received a cheque of Rs. 500 which although entered by her in the bank column of cash book, was omitted to be paid into the bank.

(v) On 30th March, 2016 a cheque of Rs. 1,570 received by her was paid into bank but the same was omitted to be entered in the cash book.

(vi) There was a credit of Rs. 150 for interest on current account and a debit of Rs. 25 for bank charges.

Draw up a bank reconciliation statement

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